Introduction
It's no secret that data is one of the most valuable assets a company can possess. However, collecting data can be complex in today's ever-changing landscape, especially when targeting a new audience. That's where third-party data comes in. By buying data from reputable sources, you can improve your marketing efforts and achieve your business goals.
Third-party data is collected by an entity other than the company that intends to use it. This data can be helpful for several reasons, including understanding your target market, adding new leads to your sales funnel, and improving your overall marketing efforts.
There are several ways to buy third-party data, but one of the most popular for companies that use Adobe Experience Cloud is the Adobe Audience Manager (AAM) audience marketplace. AAM is a data management platform (DMP) that helps collect, segment, and activate your data. It's a powerful tool that can help you reach your target audience. The audience marketplace in AAM is a self-service tool that allows you to buy third-party data.
Outline
1. Wait! Aren't Third-Party cookies going away?
2. How can Third-Party Data be used to improve marketing efforts?
3. How to buy Third-Party Data from Adobe Audience Manager's audience marketplace?
Wait! Aren't Third-Party cookies going away?
If you're unsure about the future of third-party cookies, don't worry – they're not going away anytime soon. If you missed it, I recently posted about Google's announcement to delay the phase-out of third-party cookies until the second half of 2024. Third-party cookies are still an essential part of online advertising, and they're not going away soon. In 2022, the Chrome browser accounts for 49% of all internet browsing in the US, and outside of the US, it is even higher, according to Statista. Apple’s Safari comes second with 36%. No other web browsers reach a six percent market share. Safari browsers use Intelligent Tracking Prevention (ITP) to block third-party cookies, but as mentioned, Chrome will continue to allow third-party cookies for the next two years.
So why are third-party cookies so necessary? Third-party cookies are used to track user engagement with online ads. This data is used to help advertisers measure the effectiveness of their campaigns and to optimize their ads for better performance. Without third-party cookies, advertisers lose a valuable tool for measuring the success of their campaigns. This is why it is crucial to plan a strategy now for third-party cookie depreciation and take advantage of third-party cookies while they are still helpful.
How can Third-Party Data be used to improve marketing efforts?
Third-party data is a valuable asset for companies looking to improve their marketing efforts. By buying data from reputable sources, you can gain insights into your target market, add new leads to your sales funnel, and improve your overall marketing strategy. Third-party data can help you to understand your target market better and find new ways to reach them. It can also be a cost-effective way to improve your marketing efforts and achieve your business goals when looking for new customers.
The Adobe Audience Manager (AAM) audience marketplace is a self-service tool that allows you to buy third-party data. AAM is a data management platform that helps you collect, segment, and activate your data. It's a powerful tool to help you reach your target audience more effectively. The audience marketplace in AAM lists data feeds organizations can subscribe to. It has a flat rate, CPM, and private options from third-party vendors that use the platform's audience engagement tools for effective targeted advertising campaigns!
So if you're looking to improve your marketing efforts, consider buying third-party data from the AAM audience marketplace. It's a cost-effective way to gain insights into your target market and improve your marketing strategy.
How to buy Third-Party Data from Adobe Audience Manager's audience marketplace?
1. Open the AAM from inside your organization's instance of the Adobe Experience Cloud.
2. Click on the "Audience Marketplace" tab.
3. Select the type of data you're interested in (e.g., demographics, interests, behaviors, etc.).
4. Choose a data provider from the list of available options.
The marketplace also allows you to filter the data streams by similarity to pre-existing traits or segments that have been created in your instance of AAM. If you have a trait or segment of your customers who are high-converters, you can look for a similar data stream of third-party data to start marketing to via the marketplace.
When you've found a data provider and stream you're interested in, select it from the list. You will see a breakdown of the details, including data feed name, provider information, use cases, price, and more.
Conclusion
Third-party cookies aren't going away anytime soon, so don't worry – your marketing efforts won't be affected yet. Third-party data is still an essential part of online advertising. Focus on building a first-party data strategy while utilizing third-party cookies over the next two years. By buying data from reputable sources, you can gain insights into your target market, add new leads, and improve your overall marketing strategy. The Adobe Audience Manager (AAM) audience marketplace is a self-service tool that allows you to buy third-party data. AAM is a data management platform that helps you collect, segment, and activate your data. It's a powerful tool to help you reach your target audience more effectively. So if you're looking to improve your marketing efforts, consider buying third-party data from the AAM audience marketplace. It's a cost-effective way to gain insights into your target market and improve your marketing strategy.
For more on personalization in Adobe Target, check out this posts on leveraging profile scripts.
Cover Photo by Jason Goodman on Unsplash
